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Tue June 14, 2011
GM, other companies get Michigan state tax credits
A state board has approved tax incentives for projects connected to General Motors and other companies in Michigan.
The Michigan Economic Growth Authority on Tuesday approved an amended brownfield tax credit valued at $10 million for GM's Van Slyke complex in Flint. The new project is expected to retain up to 185 jobs.
HP Enterprise Services is a subsidiary of Hewlett-Packard and was awarded a tax credit valued at $3.5 million over the next seven years. The credit will support a project in Pontiac expected to create up to 250 jobs.
Magna Exteriors and Interiors USA will receive a $1.5 million tax credit over the next three years connected to facilities in Howell, Benzonia and St. Clair County's China Township. More than 300 new jobs are connected to the projects.